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Required Information

Exerclse $10-7($Algo$)$ Stralght$-$LIne: Amortizatlon table and bond Interest expense LO P$2$

$[$The following information applies to the questions displayed below.$]$

Duval Company Issues four$-$year bonds with a $$103,000$ par value on January $1,2021,$ at a price of $$99,000.$ The annual

contract rate is $6\%,$ and Interest is pald semlannually on June $30$ and December $31.$

Exercise $10-7($Algo$)$ Part $3$

Prepare the Journal entry for maturity of the bonds on December $31,2024($assume semlannual Interest is already recorded$).$

Journal entry worksheet

$1$

Record the entry for payment of the bonds at maturity. $($Assume semiannual

interest is already recorded$).$

Note: Enter debits before credits.